As
stated before, there are four rounds of play, three
semifinals and a final round. Let's go over each round
and show how it is structured.

Round
One

All the players
eligible for the playoff are entered in this round.
Prior to play, each player is given $3,000 as a bonus
payment to keep. This money is not at risk during
the playoffs.
In addition, each player is given an equal number
of no redeemable chips. These chips have no cash value
and are to be used during the first round of play
only. They are bet during the first fifty hands of
basic Let It Ride®. At the end of the fifty hands,
the fifty players with the most chips are eligible
to go to the next round.

Round
Two

The field has
now been winnowed to fifty players. Each player is
again given $3,000 to keep, and a new set of no redeemable
chips. The chips from the previous round have been
given back and are no longer in play. So, at this
point, the fifty players have an equal number of chips.
Again, fifty hands are played. The top twenty-five
players at the end of these fifty hands are eligible
for round three.

Round
Three

Prior
to round three, each of the twenty-five remaining
players is given $3;000 to keep. By this time, they've
each accumulated $9,000. They are also each given
an equal number of non-redeemable chips to play with.
Fifty hands are once more played. At the end of this
round, the top five players are eligible for the fourth
and final round.

Gutshot to the
Nuts but no Overcard

The
bet had some chance of winning, and even though it
wasn't likely to catch all three of my opponents with
a fold, it could easily have set me up for a winning
bet on the turn or river. Plus, I had backup outs
just in case I needed them. A lot of players wouldn't
bet. I didn't have a made hand and didn't really think
I had the best hand. But I didn't completely miss
that flop and it was possible that they did. Failure
to bet at that point was just giving up prematurely.

The bet seemed to go wrong when the under the gun
player raised, and the other two opponents folded.
I called the raise but was ready to discount the idea
that I could pair and win. Things didn't turn out
the way I had hoped, but I think the bet was still
the right thing to do, that the bet worked out well
often enough to make it right.